It appears the collapse of China’s stock market has officially taken its first victim. While we have heard from desperate farmers who lost everything after realizing that making money in stocks is not easier than farmwork, RT reports that a 57-year-old man has allegedly committed suicide in Shenyang, the largest city in Liaoning Province, by jumping off the 17th floor […]
What a busy 12 hours we’ve had. And with America waking up, let’s have a recap.China’s central bank has slashed interest rates and allowed its banks to lend more money, in an attempt to prop up its economy.The stimulus move, which has driven shares higher worldwide, came after another day of heavy losses in Asia.In an unscheduled move, the People’s […]
Chinese investors monitor stock prices at a brokerage house in Beijing. Photograph: Mark Schiefelbein/AP
China’s Shanghai Composite Index plunged more than 6% in its biggest drop in three weeks, amid fears that the recent change in exchange rate policy may accelerate flows of capital out of China.The Shanghai Composite Index fell 6.2% to 3,748.16, its largest fall since an 8.5% dive […]
China sure has its micro-managing hands full these days.Just hours after the PBOC announced a modestly “revalued” fixing in the CNY, which curiously led to weaker trading in the onshore Yuan for most of the day before a forceful last minute intervention by the central bank pushed it back down to 6.39…… it was the local stock market spinning plate […]
Wikimedia CommonsWangfujing Street, BeijingChina’s economy is going through a rough patch, and fears things could get worse have been exacerbated by the recent crash of the country’s high-flying stock market.But amid all of this, the real losers may be the leaders in Beijing.”The diminished credibility of policymakers may be the most important consequence of the crisis,” a team of Citi Research economists said […]
An investor smiles after the Shanghai Composite Index rose 4.9% on Monday in its best day for a month. Photograph: Xie Zhengyi/Xinhua Press/Corbis
Stock markets around the world have been lifted by hopes that the Chinese government will allow its currency to devalue to boost growth after figures at the weekend showed a surprise slump in exports from the world’s second-largest […]
REUTERS/China DailyInvestors look at computer screens showing stock information at a brokerage house in Wuhan, Hubei province, China, July 3, 2015.See AlsoChina’s small investors are looking for a way out of stocksChina shares slip again as Beijing scrambles to calm marketsUS funds aren’t bailing on China yet despite a free-fall in stocksMrs Zhu is just the type of investor the […]
REUTERS/StringerSee AlsoChina’s small investors are looking for a way out of stocksChina shares slip again as Beijing scrambles to calm marketsUS funds aren’t bailing on China yet despite a free-fall in stocksMrs Zhu is just the type of investor the Chinese government should worry about as it tries to engineer a turnaround in the country’s stock markets, whose massive swings […]
An investor watches market returns at a stock exchange hall in China, on Monday 27 July. Photograph: ChinaFotoPress/via Getty Images
Even by recent Chinese standards, the latest stock market plunge was spectacular. Nearly 1,800 stocks – or more than 60% of shares on the main markets in Shanghai and Shenzhen – fell by the daily limit of 10%, thereby triggering a […]
The whole “market economy” thing is turning out to be a little trickier than China’s dictators expected. To set up the story: After the 2008 crash the country borrowed about $15 trillion (an amount that dwarfs the US Fed’s quantitative easing programs) and spent the proceeds on history’s biggest infrastructure program.This pushed up the prices of iron ore, oil, copper, […]
